Apm Pmq Correct Questions & Answers(Latest Update 2023)

Estimation Methods - parametric {Ans: A second top down approach where the comparison is made to projects / events outside of the organisation.}EVM benefits {Ans: +ves: Snapshot of health of project; Highlights estimation errors; Improved Cost and Time forecasting. -ves: Does not account for Critical Path activities; Needs a well defined Scope; Overly Simplistic process.}Knowledge Management (KM) {Ans: Transferring knowledge retained by people into data and Lessons Learned (LFE) that can be evaluated and shared. Use reviews, workshops, questionnaires to retrieve the information/knowledge.}Product Breakdown Structure {Ans: A hierarchy of all the products to be produced during a project. Interacted with throughout whole project life. Used in Comms scope. detailed down to component level.}Project Management Plan {Ans: An overall project plan that contains all of the project management-related documents created during the phases of initiation and scope definition and planning.}Critical Chain Method {Ans: A schedule network analysis technique that modifies the project schedule to account for limited resources.}